ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up - Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $16.52, but opened at $16.99. ZIM Integrated Shipping Services shares last traded at $17.10, with a volume of 1,053,536 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZIM. Fearnley Fonds cut ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 21st. Jefferies Financial Group reduced their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating on the stock in a research report on Tuesday, December 17th. Barclays lowered their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Finally, Clarkson Capital raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $15.04.

ZIM Integrated Shipping Services Stock Performance

The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 1.41, a price-to-earnings-growth ratio of 0.21 and a beta of 1.77. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $20.62 and a 200-day simple moving average of $20.46.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $2.81 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 66.55%. ZIM Integrated Shipping Services's dividend payout ratio is currently 9.72%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZIM. Fairman Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its position in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company's stock worth $43,000 after acquiring an additional 1,850 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $71,000. 21.42% of the stock is owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.